Regal Partners Ltd Invests $6.25 Million in Cameco Corporation (NYSE:CCJ)

Key Points

• Regal Partners Ltd has acquired a new stake in Cameco Corporation, purchasing 151,927 shares worth approximately $6.25 million, making it the firm's 23rd largest holding.
• Analysts have set a range of new price targets for Cameco, with The Goldman Sachs Group increasing its target from $65.00 to $78.00 and the average target price currently at $82.65.
• Cameco Corporation reported solid earnings with an EPS of $0.51 for the last quarter, exceeding expectations and showing a 46.7% revenue increase year-over-year.

Regal Partners Ltd bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 151,927 shares of the basic materials company's stock, valued at approximately $6,253,000. Cameco makes up approximately 0.6% of Regal Partners Ltd's portfolio, making the stock its 23rd biggest holding.

Other institutional investors also recently bought and sold shares of the company. Vanguard Capital Wealth Advisors acquired a new position in Cameco during the 4th quarter worth approximately $839,000. Kayne Anderson Capital Advisors LP grew its holdings in Cameco by 41.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock worth $1,663,000 after acquiring an additional 11,879 shares in the last quarter. Nicholson Meyer Capital Management Inc. acquired a new position in Cameco during the 1st quarter worth approximately $350,000. Balefire LLC grew its holdings in Cameco by 42.9% during the 1st quarter. Balefire LLC now owns 33,601 shares of the basic materials company's stock worth $1,383,000 after acquiring an additional 10,081 shares in the last quarter. Finally, Galibier Capital Management Ltd. acquired a new position in Cameco during the 1st quarter worth approximately $11,655,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Performance

Shares of CCJ stock traded down $0.01 during trading hours on Thursday, hitting $75.59. The stock had a trading volume of 3,001,003 shares, compared to its average volume of 4,791,952. The firm has a market capitalization of $32.91 billion, a PE ratio of 86.88 and a beta of 1.06. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $80.32. The stock's 50 day moving average is $73.44 and its 200 day moving average is $55.82. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.22. The business had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%. The company's revenue was up 46.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. As a group, research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several analyst reports. Royal Bank Of Canada boosted their price target on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, August 5th. Glj Research reaffirmed a "buy" rating and issued a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. Finally, UBS Group reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Cameco presently has a consensus rating of "Buy" and an average target price of $82.65.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.